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House approves one‑year shift in severance tax threshold, adds $1 million to bond funding
Summary
The Utah House on March 10 amended and passed S.B. 320 to raise the annual severance‑tax diversion threshold from $76 million to $77 million for one year, a change supporters said would free funds for a bond package and critics said weakened a permanent trust intended for long‑term savings. The bill passed 40–34 and goes back to the Senate.
The Utah House amended and passed Senate Bill 320 on March 10, temporarily changing the threshold for diverting oil, gas and mining severance‑tax revenue and increasing near‑term money available for a bond package.
Representative Mel Brown, sponsor of the companion bond bill, told colleagues the amendment (line 42) replaces $76,000,000 with $77,000,000 and said that change would provide “one of the $3,000,000 to fund the bond bill.” Brown described the proposal as a one‑year adjustment…
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